The rupee stayed flat against the dollar in the interbank foreign exchange market on Monday, dealers said. The rupee ended firmer at 110.55/dollar, unchanged from the previous closing level. Currency dealers said the market was in the narrow-range. The rupee started on a stable note. However, the domestic unit moved down to 110.57/58 in an intraday trade
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KARACHI: Sales of passenger cars posted their biggest ever monthly increase in January, as soft loans and a robust economy offset the impact of price increases due to recent rupee devaluation, analyst and industry officials said on Monday. Sales of passenger cars increased 22 percent to 23,562 units in January 2018 compared to 20,884 units sold in the same month
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KARACHI: Falling demand for dollars in the open market has pushed its price below the target set by the State Bank of Pakistan (SBP). The dollar traded as low as Rs111.20-Rs111.50 in the open market on Saturday - its lowest since touching the record high of Rs113.
Earlier, the SBP asked the representatives of the exchange companies to bring down the dollar
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ISLAMABAD: The government is exploring options for passage of a proposed amnesty scheme with the approval of parliament in order to protect the confidentiality of those benefiting from the scheme. The amnesty scheme is entitled Foreign Asset Declaration Scheme (FADS). In order to remove concerns of owners of offshore assets, the government is considering
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The report said that PML-N would win the elections as it was buoyed by infrastructure investments and fairly smooth economic trajectory. And the ruling party also enjoys itself the advantages of incumbency. However, The Economist observed that the business environment will remain difficult and reform will progress slowly, but the economy will respond
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LAHORE: There is no harm in cementing financial ties with China in the wake of changing relations with the US but concerns of business community and financial experts should be addressed before bringing Chinese Yuan on a par with the US dollar for Sino-Pak trade. These views were expressed by experts in a Jang Economic Session on 'Chinese Yuan vs US Dollar
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LAHORE: Inflation in election year will increase political instability and problems for the government as popularity of the government declined with growing economic issues of public and industries. These views were expressed by the experts in Jang Economic Session on ‘Increase in petroleum products prices increase inflation’. The panellists were Irfan
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LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has expressed dismay over increase in POL prices and feared of dire economic consequences, a statement said on Monday. LCCI President Malik Tahir Javaid, Senior Vice President Khawaja Khawar Rashid and Vice President Zeeshan Khalil in a joint statement said that when the petroleum prices were falling
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Stocks edged higher on Friday, shrugging off weaknesses in economy, as rally in cement and steel buoyed expectations for a better year for the growth in 2018, dealer said. Maaz Mulla at JS Global Capital said the market maintained its upward trend as flows in cement, steel, and oil kept investor's sentiment intact.
“On the news front, State Bank of Pakistan
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ISLAMABAD: Amid claims by Federal Board of Revenue (FBR) of having registered over 70 percent revenue growth during the four years, the number of individuals, association of persons (AoPs) and companies contributing not a single penny to the national exchequer is also increasing every year, The News has learnt. As per FBR data available with this scribe
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